Today’s List of Stocks to Avoid Includes Amazon and Baidu
Today, let’s check out the stocks from our
PowerRatings (for Traders) 1’s and 2’s list. PowerRatings (for Traders)
gives users a historical edge backed by millions of trades. This can help
guide you to areas of the stock market that are moving and can help you steer
clear of dangerous sectors.
Last week, the Fed cut rates and sparked a 1-day rally that saw the indexes
gain nearly 3% across the board. The driving force behind our trading edge lies
in identifying and quantifying levels which stocks have historically bounced (or
fallen) from. In this case, last week’s rally has led to a huge list of stocks
to avoid, because conditions are overbought across the board.
PowerRatings (for Traders) are updated each day after the market close, so the below
PowerRatings (for Traders) are from yesterday. Some of the stocks below have made major
moves in today’s session.
PowerRatings (for Traders) of 1 and 2 have on average lost money over the next
week. A PowerRating of 1 has underperformed the S&P 500 by a 5-1 margin.
Obviously, you should ideally be looking to be buying high PowerRating stocks
and avoid (or short) low PowerRatings (for Traders) stocks.
Today’s PowerRatings 1’s and 2’s
Amazon.com
(
AMZN |
Quote |
Chart |
News |
PowerRating)
Amazon.com
(
AMZN |
Quote |
Chart |
News |
PowerRating) has a low PowerRating of 1, the worst PowerRating
(for Traders) possible. After rallying for nearly the entire month of September,
AMZN is overbought and trading at extended levels; the historical edge lies to
the downside here.
Baidu.com
(
BIDU |
Quote |
Chart |
News |
PowerRating)
Baidu.com
(
BIDU |
Quote |
Chart |
News |
PowerRating) has a low PowerRating of 2. BIDU rose around 50%
during September, and rallied strongly into the end of the month. BIDU is
trading at extended, overbought levels.
For a free PowerRatings (for Traders) trial,
click here. If
you have any questions about PowerRatings or the new Stock Indicators please
feel free to email us or call 213-955-5858 ext 1.